India’s exports jump 23% in September; trade deficit narrows to $30.21 billion

Bharat Petroleum Corporation Ltd. refinery in Mumbai. File. | Photo Credit: Reuters

Healthy growth in shipments of petroleum products, electronic goods and chemicals helped India’s merchandise exports rise 23.04% in September, while the trade deficit narrowed to $30.21 billion year-on-year due to a dip in imports of precious metals.

However, when compared to August, the deficit during September widened from $26.86 billion. In September last year, it was $33 billion.

The country’s exports rose to $44.4 billion from $36.08 billion in September 2025, government data released on Thursday (October 15, 2026) said.

Imports rose by 8% year-on-year to $74.61 billion in September.

Gold imports down

Gold and silver imports declined by 81.27% and 49.11%, respectively, to $1.8 billion and $665 million during the month. Inbound shipments of crude oil, on the other hand, rose by 30.76% to $18.34 billion.

Brent crude oil prices have been hovering over $100 per barrel during the last few weeks.